Deltic Timber Corporation (Deltic) is a natural resources company engaged primarily in the growing and harvesting of timber, and the manufacture and marketing of lumber. Deltic owns approximately 438,600 acres of timberland, primarily in Arkansas and north Louisiana. The Company is organized into four segments: woodlands, which manages all aspects of the Company’s timberlands, including harvesting and sale of timber, timberland sales and acquisitions, oil and gas mineral revenue, and hunting land leases; mills, which consists of Deltic’s two sawmills that manufacture a variety of softwood lumber products; real estate, which includes the Company’s three real estate developments and a related country club operation, and corporate. Deltic also holds a 50% interest in Del-Tin Fiber L.L.C. (Del-Tin Fiber), a joint venture to manufacture and market medium density fiberboard (MDF).